FeedPosted Nov 6th 2009 10:00AM by Mark Fightmaster (RSS feed)
Filed under: Before the bell, Bad news, Employees, Economic data
Is this bad news for the recovery? The Labor Department reported that the U.S. unemployment rate jumped to 10.2% in October, pushing the rate atop the
10% mark for the first time in 26 years. Nonfarm payrolls fell by 190,000 in October, bringing the total number of jobs sacrificed to the recession to 7.3 million. October was the 22nd straight month that saw payrolls decline. According to MarketWatch, expectations were for an unemployment rate of 10% and 150,000 jobs lost.
Yesterday, I took a look at the
weekly jobless claims, suggesting that we could see a substantial drop today if this morning's jobs report came in worse than expected. The report was worse, now let's see if yesterday's "good news" and rally is going to give way to a slump like last Friday.
Continue reading Jobless rate jumps to 10.2% during October
Posted Nov 6th 2009 7:45AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Employees, Market matters, Economic data, DJIA
U.S. stock futures were higher Friday morning, continuing Thursday's strong performance and nearing two-week highs. All eyes this morning will turn to the government's jobs report. While there have been signs of growth and recovery in the economy, the labor market has been one of the biggest concerns, as the Federal Reserve statement just from Wednesday attests.
[
Update 8:33 a.m.: Stock futures changed course after the government reported the unemployment rate rose to 10.2%, above the 9.9% expected. Nonfarm payrolls dropped by 190,000 in October, bringing to total number of jobs lost in the recession to 7.3 million.]
U.S. stock markets surged about 2% on Thursday with the Dow Jones Industrial Average reclaiming the 10,000 mark with a 203 point move. Positive economic news, including sales results from retailers and upbeat outlook from tech giant Cisco (NASDAQ: CSCO).
Continue reading Before the bell: Futures decline after unemployment rate rises to 10.2%
Posted Nov 5th 2009 7:40AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Cisco Systems (CSCO), Toyota Motor Corp. (TM), Market matters, Economic data, Federal Reserve
U.S. stock futures drifted a little lower (later a little higher) Thursday morning following Wednesday's Federal Reserve's statement that it was keeping rates at record low levels. However, earnings from tech giant Cisco accompanied by an upbeat outlook could give a boost to tech. Also this morning, investors will watch as retail chain-stores report October sales.
[
Update: Futures now point to a higher open following retail sales data, earnings and lower claims numbers.]
On Wednesday, Wall Street ended mixed and relatively flat after the Federal Reserve decided to keep rates steady. While conceding the economy has picked up, policymakers said this was not enough to hike interest rates, saying an increase will instead depend on when the labor market and inflation pickup. Given that there have been no inflationary pressures and that unemployment is expected to rise, the dollar weakened yesterday and short-term Treasury yields fell. The Fed also cautioned consumer spending would remain strained. Of course, the market would have liked to see a stronger show of confidence.
Continue reading Before the bell: Futures higher after data, earnings
Posted Nov 4th 2009 7:30AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Time Warner (TWX), Berkshire Hathaway (BRK.A), Market matters, Johnson and Johnson (JNJ), Economic data, Oil, Federal Reserve, Burlington Northern Santa Fe (BNI)
U.S. stock futures climbed on Wednesday morning, ahead of the decision by the Federal Reserve on interest-rate and monetary policy. This afternoon, the Fed will give its outlook on the economy and the corresponding policy it's taking. It is widely believed the Fed will not raise rates. Meanwhile, more earnings and economic data are on tap.
Unlike this morning, traders appeared more cautious Tuesday, as the Fed began its two-day policy meeting. Stocks ended mixed and fairly unchanged following news that Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) has decided to buy Burlington Northern Santa Fe (NYSE: BNI) in a deal worth $44 billion and as Johnson & Johnson (NYSE: JNJ) announced a 6-7% workforce reduction.
Continue reading Before the bell: Futures rise ahead of Fed decision
Posted Nov 3rd 2009 7:45AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Market matters, Economic data, Lloyds TSB Group plc ADS (LYG), Federal Reserve, Financial Crisis
If on Monday investors were ready to bounce back from Friday's selloff, today stock futures are sharply lower, indicating U.S. stock markets are poised to slump at the open ahead of the Federal Reserve two-day policy meeting that begins today. Another rate hike from Australia, poor results from UBS and weak European markets weigh on sentiment.
Monday was a volatile session. Stocks rallied in the morning following a surprise profit from Ford (NYSE: S) and an upbeat home sales reading, but mostly due to October's manufacturing index that jumped to its highest level in three and a-half years. That didn't hold up, though and the Dow skidded to negative territory only to bounce back later in the afternoon as buyers came back in.
Continue reading Before the bell: Futures point to a sharply lower start
Posted Nov 2nd 2009 7:35AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Ford Motor (F), Market matters, CIT Group (CIT), Economic data, Oil, Financial Crisis
U.S. stock futures were significantly higher Monday morning, with Wall Street ready to start November on a solid note following Friday's sharp selloff. This morning is indicative of the week ahead full of earnings and economic data. In addition, this week also features the Federal Reserve policy meeting.
On Friday, markets skidded some 2.5 percent as the fate of
CIT Group (NYSE:
CIT) hung in balance and the strength of the economic recovery, and with it the markets' rally, questioned. And after seven months winning streak, which took Wall Street over 50 percent higher from March lows, October finished in a down note.
Continue reading Before the bell: Stocks futures point to a solid start after CIT's failure, Ford's earnings
Posted Oct 30th 2009 7:35AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Market matters, Sony Corp ADR (SNE), Chevron Corp (CVX), Alcatel-LucentADS (ALU), Duke Energy (DUK), Economic data, MetLife Inc. (MET)
U.S. stock futures drifted lower Friday morning, indicating a weaker start on Wall Street, a day after a market rally that was fueled by strong economic reports. But as investors catch their breath, they also await cautiously for data on consumer spending and sentiment, as earlier data this week surprised to the down side.
On Thursday, the government reported the economy grew 3.5% in the third quarter. While the growth was mostly due to government stimuli, it was enough to lift stocks some 2% for the day. Treasury Secretary Timothy
Geithner said Thursday the U.S. economy's return to growth shows some stability but recovery is fragile and needs nurturing.
Continue reading Before the bell: Futures lower as Street takes a breather, awaits more data
Posted Oct 29th 2009 9:35AM by Mark Fightmaster (RSS feed)
Filed under: Before the bell, Good news
It appears that the U.S. economy may finally be dragging itself out of the economic doldrums. At least, that is what the third-quarter Gross Domestic Product indicates. The GDP showed that the
U.S. economy grew at a 3.5% annual pace in the third quarter, snapping a four-quarter contraction streak.
The growth is attributed to the massive government stimulus, which led to higher consumer spending. In addition, a reduction in inventories and robust government spending helped spur growth in the third quarter. But even excluding the influence of auto sales, production and inventories, the economy grew 1.9 percent last quarter.
Continue reading Third-quarter GDP shows growth -- is the recession over?
Posted Oct 29th 2009 7:35AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, Exxon Mobil (XOM), Market matters, Sprint Nextel Corp (S), Procter and Gamble (PG), Economic data
U.S. stock futures were mildly higher, indicating a positive open for this Thursday morning following the previous session's sell-off. However, all bets are off before the U.S. releases third quarter gross domestic product that would give a better picture of the state of the U.S. economy and growth. The GDP data will no doubt affect investors' mood once released at 8:30 a.m., or an hour before the opening bell.
[
Update 9:00 a.m.: The
economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. Futures got a boost from the reading.]
Economists expect GDP to have grown at a 3.2% annualized rate in the third quarter, according to Briefing.com after shrinking at an 0.7% annualized rate in the second quarter. If true, it would mean the economy is back on its feet after being knocked over by the worst recession since the 1930s. But many attribute the growth to government support programs such as cash for clunkers and mortgage modification and wonder what the fate of the economy be once gone.
Continue reading Before the bell: Stock futures higher ahead of GDP data
Posted Oct 28th 2009 7:45AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Market matters, Economic data, Oil, Housing
U.S. stock futures declined Wednesday morning a day after stocks mostly fell on mixed economic data and some earnings disappointments. Today is another busy day of earnings and economic releases, including durable goods orders and new home sales.
On Tuesday, U.S. stocks fell for a third straight session after a surprise drop in consumer confidence. Despite a good housing report, and even as the Dow's oil giants and IBM (NYSE: IBM) saved the Dow from finishing in the red (BP (BYSE: BP) on good earnings, and IBM increased its share repurchase plan), tech staged a selloff and the Nasdaq composite fell 1.2%. The S&P 500 fell 0.3%.
Continue reading Before the bell: Stocks set to drop ahead of more data, disappoinging earnings
Posted Oct 27th 2009 7:45AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, International markets, Market matters, BP p.l.c. ADS (BP), U.S. Steel (X), Valero Energy (VLO), Economic data, Johnson Controls (JCI), Oil
U.S. stock futures drifted higher Tuesday morning, pointing to a somewhat flat beginning on Wall Street this morning after yet another sell-off day Monday despite a series of strong earnings releases. Investors await several economic releases due out this morning, including housing and consumer confidence, looking for direction.
Economic releases this morning include September durable goods orders at 8:30 a.m. Eastern, which is expected to have risen. At 9 a.m., the August Case-Shiller Home Price Index is due out. Prices are expected to have continued their slide. At the same time, October's Conference Board reading on consumer confidence will be released. Economists expect confidence has improved slightly.
Continue reading Before the bell: Futures waver ahead of economic reports, more earnings
Posted Oct 26th 2009 7:40AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, Verizon Communications (VZ), Economic data
U.S. stocks are set for a higher open Monday, ready to rebound following Friday's losses. With not much in the way of economic news today, investors looked ahead to more earnings reports, counting on them to continue to exceed expectations. Verizon Communications Inc. (NYSE:
VZ), the second-largest U.S. phone company, is due to report earnings this morning.
The upcoming GDP report due out Thursday is really the highlight of this week as it could reveal a better picture about the U.S. economy and its recovery.
More here:
Before the bell: Stocks set to rebound as more earnings on tapPosted Oct 23rd 2009 7:30AM by David Schepp (RSS feed)
Filed under: Before the bell, International markets, Earnings reports, Microsoft (MSFT), Fortune Brands (FO), Economic data, Honeywell Intl (HON), Oil, S and P 500, DJIA, Recession, NASDAQ
Wall Street watchers can be excused for feeling a little whipsawed this week. After watching stocks lose ground early in the week, they roared back Thursday, riding high on a bevy of upbeat earnings reports. That enthusiasm remains partially on display this morning with two of the three major U.S. stock indexes showing a positive opening ahead of the morning bell.
At about 7 a.m. ET, the Nasdaq Composite Index and S&P 500 were slightly higher, while the Dow Jones industrial average was down by about 4 points. The Dow gained 1.3% Thursday to close the session at 10,081.31, led by the strong earnings reports from five of the benchmark index's 30 component stocks.
Continue reading Before the bell: Earnings enthusiasm shows signs of slipping
Posted Oct 22nd 2009 7:30AM by David Schepp (RSS feed)
Filed under: Before the bell, Earnings reports, eBay (EBAY), AT and T (T), Black and Decker (BDK), Bristol-Myers Squibb (BMY), Chubb Corp (CB), Chipotle Mexican Grill'A' (CMG), Economic data, Bunge Ltd. (BG)
Despite largely positive corporate earnings reports, investor caution has set upon Wall Street. For the third straight day stocks are set to move into negative territory, with futures showing the three major U.S. indexes heading lower ahead of Thursday's opening bell.
Some blamed Wednesday's near 1% drops in the Dow Jones industrial average and the S&P 500 on a late-day sell-off driven by the latest
Beige Book survey from the Federal Reserve that showed the economy is ever so slowly emerging from recession -- too slowly, it would seem, for investors.
Continue reading Before the bell: Investors' caution reigns amid earnings season
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